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Benefit Administrative Systems (BAS) Announces Continued Growth and Expansion in Reference-Based Pricing Plan Administration

BUSINESS WIRE

Company Founder Marty Joseph To Present Outlook for Reference-Based Pricing at World Health Care Congress

April 10, 2019 07:01 AM Eastern Daylight Time

CHICAGO–(BUSINESS WIRE)–Reference-based pricing (RBP), in which self-insured employers set a reasonable and fixed price for health services in their plan, has emerged as a rapidly expanding solution for companies that want to exercise more control over health care costs. To implement and administer RBP, employers are turning to experts like Benefit Administrative Systems (BAS), a division of HealthComp Holdings and a leader in RBP. BAS founder Marty Joseph will share his RBP expertise and insights in a session entitled “Outlook on Reference-Based Pricing as a Cost-Saving Strategy for Employers and Brokers” on May 1 at the Employer Health Care Cost & Quality Congress, part of the World Health Care Congress, in Washington, DC.

Marty Joseph, founder of Benefit Administrative Systems, a division of HealthComp Holdings, will share his insights & expertise on reference-based pricing for #employers & #healthcarecosts at the World #Healthcare Congress on May 1 #WHCC19Tweet this

BAS is one of the first companies to venture into RBP plan administration and is recognized as a preeminent expert in the space. The company started its RBP administration services with two employer groups in 2013 and now works with more than 130 groups in 2019. These groups range in size from 100 to 12,000+ members. Since BAS first operated in this space, it has processed over 465K RBP claims, totaling over $400M in billed charges.

“As health care costs continue to chip away at employers’ bottom lines, they are turning to RBP as a new and innovative approach to control costs, improve transparency, and ensure quality health benefits for employees,” said Joseph. “Through our experience in administering a high volume of RBP claims and in collaboration with our RBP customers, we’ve designed unique RBP programs that achieve employer goals to save costs and provide a superior member experience. We’ve made BAS a dedicated Center of Excellence in RBP administration, exemplifying our specialization in and commitment to this model.”

In regard to his session, Joseph added, “I’m excited at the opportunity to share my expertise at the upcoming World Health Care Congress in Washington, DC, where employers can learn about the RBP model – what it is, how it can save them money, and the best practices to ensure success and member satisfaction.”

Companies that administer RBP, such as BAS and RBP repricing vendors, have reported major savings for their employer clients – up to a 25 to 30% overall reduction or an average savings of $150,000 per 100 employees in the first year. This benefit approach attacks the crisis of skyrocketing health care costs from multiple angles:

  • Fair and consistent pricing. RBP plans aim to reimburse providers at a fair and reasonable price based on a set “reference” point – such as Medicare rates or the actual cost of delivering the healthcare service.
  • Transparency in pricing and billing. Line-by-line auditing of claims ensures cost transparency and avoids scenarios where employers may be overcharged for certain healthcare services or products, such as being billed $1,000 for a patient toothbrush.
  • Customization. Employers can work with BAS and an RBP repricing vendor to customize their plan.

A major concern for employers and employees is balance billing, in which a facility may bill a member for the balance between what it receives from the plan and what it expects to be paid. BAS has developed unique programs that address this issue, as well as fostering overall RBP success:

  • Initial and ongoing education, customer service, and support help members always know what to expect and how to engage with their benefits.
  • Deep expertise and experience with common challenges enables BAS to offer proactive strategies to address them. BAS offers an outreach program that alerts members with a text and live phone call when an RBP claim is processed. As a result, these members understand the steps they need to take if they receive a balance bill.
  • BAS ensures a seamless member experience through integration with the repricing vendor and member advocacy programs, both of which minimize confusion and frustration.
  • BAS also provides data and reports on claims and demographics, so that employers can better manage their groups’ overall needs.

Employers interested in attending can register via the World Congress site:

https://www.worldcongress.com/common/regsplit.cfm?confcode=HR19020

About Benefit Administrative Systems, LLC (BAS)

BAS, a division of HealthComp Holdings, is a results-driven third-party administrator that was founded in 1983. The company has a track record of delivering cost savings and customer satisfaction. It utilizes specialized services, tools, and partners to create a robust partially self-funded plan as unique as each client. BAS is headquartered in Chicago, Illinois.

About HealthComp Holdings

For more than 35 years, HealthComp Holdings has been dedicated to transforming benefits management into an experience that employees and employers love. Bringing together concierge-level service, operational excellence, powerful analytics and cost management, we’ve built a solution that integrates seamlessly with any benefits ecosystem. As one of the nation’s leading benefits administrators for self-funded employers, we are comprised of two Centers of Excellence: Our Center of Excellence for PPO administration is based in Fresno, California, and our Center of Excellence for Reference-Based Pricing (RBP) is based in Chicago, Illinois.

Contacts

Joy Scott, CEO, Scott Public Relations
joy@scottpublicrelations.com
Phone: 818.610.0270

Chad Harris

Chief Executive Officer

 

Chad Harris serves as the CEO of HealthComp and is a value-driven healthcare leader with over twenty years of experience running business process and information technology businesses as a senior executive. Chad has a reputation for creating and controlling rapid growth by focusing on the intersection of customers, market dynamics, and the new digital world.

 

Chad has held many senior executive positions and led global teams of more than 10,000 people across dozens of counties. Chad has grown both large and small businesses, from those with less than $100M of revenue to those producing multiple billions of revenue, focusing on delivery, customer satisfaction, and innovation to create market leadership.

 

Chad's philosophy is to inspire change by doing what comes naturally, putting the needs of others before his own, working incredibly hard, and focusing on "how" to accomplish things, never "if they can be accomplished."

Thomas Martel

Chief Growth Officer

 

Tom serves as the Chief Growth Officer at HealthComp. In this role, Tom focuses on strategic initiatives aimed at accelerating HealthComp’s growth nationwide. His passion lies in assessing market and enterprise structures and creating efficiencies that enable teams to deliver best-in-class performance.

 

Previously, Tom led Cigna’s largest employer segment, largest region which was comprised of several health plans including the two largest health plans. He worked closely with Market Presidents and their leadership teams to develop and execute local market strategy and deliver growth for the enterprise. Tom earned his degree from Saint Anselm College and holds certifications from The Wharton School and the Darden School of Business at the University of Virginia. In his spare time, he enjoys sailing and holds a Master Captain’s license with the U.S. Coast Guard. He is also active in community outreach programs including local food bank and shelter services.

Sanoj Balakrishnan

Chief Technology Officer

 

Sanoj Balakrishnan serves as the Chief Technology Officer at HealthComp. In this role, he oversees the company’s overall technology strategy and architecture, building secure and highly scalable distributed systems.

 

Most recently, Sanoj served as Head of Healthcare Digital Business and Technology at Cognizant, working with payers and providers in developing solutions that reduced healthcare costs and provided a best-in-class experience for members. Earlier in his career, he worked at technology organizations in a variety of software engineering and architecture roles. Sanoj earned his B.S. from University of Mumbai and Computer Systems Management from National Institute of Information Technology.

Justin Tran

Executive Vice President, Product

 

Justin serves as the Executive Vice President of Product at HealthComp. He has 8 years of experience in developing and delivering solutions that reduce health care costs, improve quality, and provide a best-in-class experience for members. Most recently, Justin was an Associate Partner and business unit leader at McKinsey & Company where he helped large carriers and healthcare technology companies build new clinical services and solutions for fraud, waste, and abuse. Justin earned his B.S. in Accounting and Data Informatics from Indiana University, Bloomington.

Tucker Stein

Chief Financial Officer

 

Tucker serves as the Chief Financial Officer of HealthComp. Tucker previously worked for The Boeing Company in a number of finance and strategy roles, most recently as a finance lead for the Transactions and New Business Development group. In this role, Tucker led investments and strategic partnerships for Boeing’s Space and Communications portfolio. Tucker earned his MBA at Stanford’s Graduate School of Business and his Bachelors of Science at the University of Redlands.

Tom Georgouses

General Counsel

 

Tom is involved in multiple areas of HealthComp including Operations, Compliance and Legal Affairs. Tom was admitted to the California Bar in 1990 and started his legal career with Stammer, McKnight, Barnum and Bailey, LLP. When he left the firm to join HealthComp in 2014, he was the Managing Partner (he had represented HealthComp since 2003). In private practice, Tom’s areas of focus included healthcare and transactional work. Tom holds a Bachelor of Science Degree in Business Administration-Finance from California State University Fresno and received his Juris Doctorate from San Joaquin College of Law.

Rishab Bansal

Chief Transformation & Operations Officer

 

Rishab serves as the Chief Transformation & Operating Officer at HealthComp. Rishab focuses on transforming and modernizing HealthComp’s operations to provide delightful and distinctive experiences to its members, providers, and clients. His agenda includes integrating all entities towards a One HealthComp vision, driving profitable growth, and delivering value and business outcomes.

 

In his former work over the last 2 decades, he has helped clients across industries to transform themselves by bringing industry-leading practices and digital and data-led disruption. As the trusted advisor to the C-suite, Rishab helped his clients leapfrog on their transformation journey to accelerate business outcomes and helped them unlock new opportunities to drive profitable growth, profitability, and enhanced experience for their employees and clients.


Elaine Davis

Chief Human Resources Officer

 

Elaine Davis serves as CHRO for HealthComp. Elaine previously served as CHRO for Continuum Global Solutions and has served in executive leadership positions for Xerox and GlaxoSmithKline. Elaine holds Bachelor’s and Master’s degrees from the University of California at Berkeley.